Greece’s center-right government has welcomed a credit rating upgrade by Moody’s, the last major ratings agency to lift junk status on government bonds that began 15 years ago during a severe debt crisis.

“ (This) upgrade marks the closing of a great cycle for the Greek economy and certifies the country's return to European normality,” Finance Minister Kostis Hatzidakis said, describing the action as “a success not only of the government, but of all Greeks”.